French court approves Colony Capital purchase of hotel group
A Marseille commercial court approved U.S. investment group Colony Capital and France's AccorHotels to take over French hotel group Maranatha in receivership since 2017.
Maranatha runs about 50 mostly four and five-star hotels in France owned by some 5,500 private investors through 135 companies, which must also approve the sale.
The court chose the offer from Colony as a financial investor and AccorHotels to operate the hotels over other offers.
